According to a press release issued by the City of Atascadero Friday, Walmart has announced that it will not be moving forward with plans to open a store at the corner of El Camino Real and Del Rio Road in Atascadero.
The city said Walmart pulled out of the project due to changes in the market, citing an increase in demand for e-commerce and online sales.
“While we are disappointed in the news, had it been announced four years ago during the recession it would have been more difficult to receive. However, the City will be working with new potential partners, and we are optimistic about the options that this retail location will offer,” said Mayor Tom O’Malley.
This story will be updated as more information becomes available.